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20121201
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at a weaker pace. the planned resignation of italian prime minister mario monti weighing on the european markets this morning. he said he will step down as soon as the 2013 budget is approved. that's because berlusconi. it's been said a couple things this morning, that italy is now the problem child in europe, more than greece, more than spain. but conversely, china, if gdp is coming back, they are in what many consider to be a sweet spot. >> the numbers came out saturday for china. i think italy has been remarkably good. so this was a big game changer. italy had been a part of the good story of european recovery. now it's back. >> all to monti was never intended to be there for the long term. >> sure. >> in fact, he may be leaving a month earlier than originally planned. this should not be a surprise in the larger context. while we may mention berlusconi's name right now, he's not expected to win. >> look, we knew that monti was successful. >> it may be whoever follows him is going to roll some of the gains that he's had. so-called gains. >> that's going to cause ripples here. look, on
are not making this up. you really can't. the dog named monty is one of three dogs that were taught to drive using special commands and controllers alongside their trainer. yesterday monte took his first solo ride. it was live on television. congratulations. thank you for the fantastic video. >>> well, here's a look at your first news going on around america today. we're going to begin with the life and death struggle. it was all caught on tape. staring down the barrel of a shotgun. a florida man fought off a gunman's robbery attempt. he and co-workers pounded the suspect until police arrived. >>> next to new york city where police are hunting the criminal responsible for this vicious attack on an 85-year-old woman right inside the elevator. the suspect snatched her purse and wedding ring. the victim, whose husband is terminally ill, begged for the ring but was ignored. >>> a twister tore through the sunshine state leaving about 40 homeowners with severe property damage. so far central florida officials have recorded down power lines and trees, as well as scattered debris along roadways. >>>
an appreciative audience in rome he'll denounce the policies of his successor, mario monti, and his management of the current economic crisis. after decades in italian politics, this 76-year-old businessman appears rested and ready for a fight. tan and fit not and a gray hair on his head. he's not without troubles of his own. he's appeals a kwixz for tax evasion and on trial for allegedly having sex with a minor, a now of age moroccan dancer known as ruby, the heartbreaker. belusconi is in and monti will soon be out. he's step down as soon as parliament passes its 2013 budget. stepping down doesn't mean he's stepping out. many here speculate he's simply preparing to take off his mental and don that of a politician and run himself for the premiership in elections early next year. monti's policies of tax increases and spending cuts have sparked widespread protests, but many other italians think such tough measures were unavoidable says this professor. >> while there is concern, while there is resentment, while there is worry about future, i think there is a rather widespread agreement that what
there of in europe. mario monti is stepping down as prime minister of italy. he lost support of the people. he was out in front of italy's debt crisis last year and he lowered the bar in cost. he is a smart guy. he obviously does not want to stay there. investors took heart from the latest data out of china. growth is accelerating. no more that owning our process here. almost 10%. beating analyst estimates. copper moved higher. it is an industrial metal. money flowing into stocks. minors like numa mining. then, of course, the announcement that they would be taking a big acquisition. today, it is up more than a percent. cliff natural of about 5%. we should not forget mcdonald's. better same-store sales than expected. coming up in just a few minutes. cash is king at ethan allen peered the furniture retailer throwing a lot more cash at shareholders. they are announcing a one-time payout this month alone. we will get the inside story from ethan allen chairman and ceo farooq kathwari. you have to hear about his plans for china. international expansion is a huge priority. the chinese may like that p
's happening with italian politics. of course, mario monti saying he was going to resign as italy's prime minister. that paves the way for flesh elections to be called in the beginning of next year. yesterday, we saw the negative reaction. sylvia berlusconi wants to make his return on the political scene. today, we saw a bounce back. if you can see see bind me, the bank stocks in italy rerebound, but it's only in the range of .5% to 1% of these names which were down in some cases nearly 10% yesterday. if you take a quick look at european bourses, if that's possible, down near the ftse mib, this is the one selling off somewhere in the range of 3.5% yesterday. today it's adding about .8%. in spain, showing a nice rebound. same attitude listing peripheral debt. we can take a look there. italy and spain seeing prices rise, yields falling to 4.75% and 5.75% respectively. is investor attention returning to spain? here is the thing. italy is the third biggest government debt market in the world. it's the third biggest economy in the eurozone. whatever happens with its political situation could p
in italy. >> it's an all-italian version of the european close right now, carl. mario monti, contrary to reports last week that he did not want to run for prime minister again, we now hear he's undecided, and may actually run for p.m. of the country. right now he serves technocratically. there's expected to be an election early next year, maybe in february or in march. he has told reporters that he's considering it. the cabinet member he spoke with earlier in the week said he's going to make an announcement sometime this week on television. when asked by reporters about his recent visit to the tomb of saint francis he said he did, indeed, pray there to help him make a decision about whether or not to run. a man eagerly awaiting monti's decision is silvio berlusconi, the former prime minister of italy. we're pretty sure he has not prayed at the tomb of st. francis lately. he has said that he devil wants to be run for prime minister again however at the same time he's also made noises that suggest that he wouldn't run if monti runs. that's not set in stone. we're going to see what happe
and withdrawing support from mario monti. this may lead to midterm elections because monti is market friendly you might not end up with a market friendly solution. we thought we'd have elections march/april, there's the prospect it could be a snap election much earlier perhaps in the new year. now the good news is there isn't a huge amount of blowout on the bonds at the short end of the italian markets. the yields are higher but not huge relative to where we've been but on the ten-year italian market you can see we're slightly higher but no great shakes overall. it means the rally in the peripheral bond market we've witnessed in italy and spain has now stalled at this stage. remember we had the auction in spain yesterday and the yields are slightly higher relative to where we've been, they're still relatively depressed. we talk about the problems in europe, i thought it was worth pointing out amidst all the malaise what is happening in germany today an astounding manufacturing german manufacturing orders result from germany up 3.9% in october, a phenomenal performance from german industry and it'
because spending cuts are not working out for italy's government. prime minister mario monti announced he would resign after losing support over his austerity moves. a return of political instability there reminds us that europe still faces a lot of hurdles before it comes out of its economic crisis. countries like greece, spain and italy have been tackling their problems with sharp cuts in spending and higher taxes and that's been fueling recession and unrest. meanwhile, we now know that japan officially slipped into its own recession over the summer with the japanese economy contracting 3.5% between july and september. now, the previous quarter, the previous three months number was also revised lower and that makes for two consecutive quarters of negative growth and that's the classic definition of a recession. from asia, back to america, literally, a group of chinese investors agreed today to buy an 80% stake in aig's aircraft leasing business. back in 2008, the insurance giant was bailed out by the u.s. government to the tune of $180 billion. four years on, still paying back the money
interesting. >> meanwhile, european markets are down and because the italian prime minister mario monti m a surprise. is going to resign. and silvio berlusconi wants to replace him. europe is appalled. and people blaming the recession for not having more children. 64 births for one thousand women of child bearing age. half of the peak of the baby boom in the 1950's. our next guest has six children, counts them. and what's that-- >> and naham segal. that works. >> have i got that word? >> and light tte candles. >> if you light them i will come. >> you have six children. >> as do you. >> leave me out of this. >> and others people say they can't afford it you're saying it doesn't matter if you can afford them or not. >> if the price tag of having a child scares you the most, you haven't done the right gut test. stuart: so, go ahead and have the children whether you can afford them or not. >> having children is the investment in the future. if we don't have children now and understanding in the short-term there are obviously economic hardships going on, it is classic then in an economic down
of people think your dogs are brilliant. ladies and gentlemen, this is proof. you're looking at monty, ginny and porter. >> brian: real? >> steve: yes. those are dogs that are learning how to drive. what they're trying to do is changing the public's per suspicion of the intelligence of rescue dog, showing that you can teach old dogs new tricks. come get a rescue dog. who knows? maybe they'll drive you around. >> brian: i mean, your paws are warn out, you want an alternative? this is it. >> gretchen: how about all the car pooling for moms and dads? got to get your kids to socker and piano. who know as soon as maybe in the coming future the dog can drive. >> steve: one of the extraordinary things, this is taking place in new zealand. they're giving these dogs these driving lessons. they're actually going to have their official driver's test live on television. who wouldn't watch that? >> brian: these are rescue dogs that could pay the ultimate price if people don't adopt them. people are saying look, not only are they great dogs, but how intelligent they are. >> gretchen: maybe that dog could
go with the resignation of mario monti. greece is higher. por sh gal is higher. spain is higher. it's a good day for -- investor sentiment.strongly it was revealed today. optimism over what the fed is going to do in the united states tomorrow. optimism there will be a deal on the fiscal cliff. you have optimism that the recapitalization of the banks is going to be delayed by another year according to the bank of italy. and you have optimism as well on mar of election promises as we now face the pros wekt of a much earlier election in italy. to that end it is fascinating. sylvia berlusconi has come out today warning about the germano center of politics. in other words, too much of a focus on what is happening from germany and the austerity inspired by angela merkel. in particular, he is drawing attention to this. which is the spread of the extra that investors demand to hold italian bonds over german bonds. i've shown this to you a couple times. over the last year it's been a mainstay of a lot of the italian business broadcasts internally. they say our bonds are currently trading so
the news of monti's resignation on monday. they've recovered from then. wanted to show the ibex 35, up .3% in spain. there was an italian debt auction that went over well. that's helping sentiment. the owner of zara, one of the strongest retailers in europe, out with sales. you see that their shares are down. even though their nine-month sales figure was up 17% year on year, they said so far in the fourth quarter that figure was slowing to something in the range of 15%. so still a strong set of figures from inbitex. if you're concerned about the consumer, but not as strong as we have seen in the past. that's what's happening in spain. i want to draw your attention -- use guys were talking about unions. here's a union story that tells something about the rebalancing in the eurozone. potentially germany. we know with the xetera dax up .3%. and almost 30% this year. investors see if the euro project hangs together, it's going to mean renation in germany. that is some wage inflation, some price inflation. the public sector union verde, powerful union, along with some others with its contract
. meanwhile, also worth mentioning that, after the sell-off we got on italian debt, where mario monti said he would resign over the weekend, today italy successfully went through an auction at the one-year level of debt. and you can see where people have viewed monday's sell-off as a huge opportunity. so the yields are heading down on the ten-year. just before i give you back to carl, i wanted to hand you a piece of research from goldman sachs. they have looked at what the eurozone crisis cost america in terms of growth. at the beginning of the year, they suggested they could knock 1% off potential gdp. and now they say they knocked three-quarters of a percent off growth here. half a percent was due to a general tightening of financial conditions. it's a very complicated set of calculations to get to that, but they have. half a percent of american growth is a result of weaker exports to europe. and the final thing that i think is very interesting. they say there's been a negligible impact on america due to what banks might be doing here. in other words, the european banks in new york, in bost
end of the bubble. right now i can kind of picture that scene in the "monty python" movie where they're like, bring out your dead. there are companies they want to ipo. companies like hilton. you have to think, 2013, six years since they were originally purchased by the private equity sponsors. probably time for them to try, at least, to get those companies out into the public markets. there are a number of them that have tried already, like toys r us. you maybe had them on the other day. >> yesterday, in fact. >> that thing is stuck. it ain't going anywhere. those are the types of things that the private equity firms want to get out in the market. >> toy was public, went private. now we talk about it going public one day again. you put that in a group along with via of names that could go if the economy is strong enough. >> my colleague and i, we talked about this. he says if the economy is really great, then maybe these things get out there. ment but a via, a low-growth business right now, purchased at the top of the market. so many of those privately backed companies that are just
Search Results 0 to 14 of about 15 (some duplicates have been removed)

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